Purchase with seller finance wanted - 2/3 bed villa/condo

[Saturn888]

Hi,

Looking for a 2/3 bed villa or apartment for purchase with a budget of 3-5 million baht. Can put a small portion down and looking for seller finance over several years. 

Can be flexible on location. Can purchase quickly for ideal property.

[Edge]

1 hour ago, Saturn888 said:

Hi,

Looking for a 2/3 bed villa or apartment for purchase with a budget of 3-5 million baht. Can put a small portion down and looking for seller finance over several years. 

Can be flexible on location. Can purchase quickly for ideal property.

 

Are you Thai?

[Saturn888]

No. 

[Saturn888]

Or if anyone knows of any developers with completed projects offering seller finance ready to move in? Can be in Pattaya, Chiang Mai, Koh Samui

[Petesie]

Alan Bolton & Gecko have some ads which offer seller finance but these are usually at a higher market premium; if you have the cash then good deals can be had.

[Saturn888]

32 minutes ago, Petesie said:

Alan Bolton & Gecko have some ads which offer seller finance but these are usually at a higher market premium; if you have the cash then good deals can be had.

Thanks do you have links to those ads?

Was thinking it may benefit a seller that has not been able to sell or offer a faster sale with down payment. It would also benefit me not to put all the money down.

[Saturn888]

Ok, just found their website and sent them a message. 

[mike1878]

I just bought one.. 3mil, 72M, one bedroom in Pratumnak off Soi 4.    Previous owner paid 4.8 mil.   So there are deals to be made.  But am not so sure on financing.   Maybe better off getting loan back home and use that to purchase the condo.  Like a personal loan.   Loans are cheap but hard to get recently.  Most people do not want to float you and if they could, will not be desperate to sell, therefore may not be able to get a good price. 

[usexpat46]

45 minutes ago, mike1878 said:

I just bought one.. 3mil, 72M, one bedroom in Pratumnak off Soi 4.    Previous owner paid 4.8 mil.   So there are deals to be made.  But am not so sure on financing.   Maybe better off getting loan back home and use that to purchase the condo.  Like a personal loan.   Loans are cheap but hard to get recently.  Most people do not want to float you and if they could, will not be desperate to sell, therefore may not be able to get a good price. 

Did he ask you to pay any of the transfer tax?  Also many of the condos CAM fees are due at the beginning of the year so that might have encouraged him to sell.

[Saturn888]

1 hour ago, mike1878 said:

I just bought one.. 3mil, 72M, one bedroom in Pratumnak off Soi 4.    Previous owner paid 4.8 mil.   So there are deals to be made.  But am not so sure on financing.   Maybe better off getting loan back home and use that to purchase the condo.  Like a personal loan.   Loans are cheap but hard to get recently.  Most people do not want to float you and if they could, will not be desperate to sell, therefore may not be able to get a good price. 

Great deal. Yes, but have some funds tied up in some real estate on some projects so would prefer the payments to be spread out. Would benefit someone who did not need all the money straight away  but could offer a reasonable price without taking a big discount to sell.

[kimternet]

You seem to have a wide ranging budget, and be very open to what and where you want to buy. Maybe you should do some research first to nail down the city, then area, and then type of property you want.

Depending on where you'd like to buy, different agents will specialise in different areas. I was going to write that an agent may find it odd that someone approached them wanting to make a quick purchase but not know much about where or what they wanted, but actually they've be rubbing their hands together with glee.

Ever since Covid really kicked in I've been open to buying a property in Pattaya (Pratumnak) and have been watching the market closely, but apart from the occassional OK deal, the prices haven't dropped much, whereas rentals have dropped considerably. I'm talking to a couple of agents who are keeping me informed, but they are suggesting to hang on for now.

[Mr Wombat]

7 minutes ago, Saturn888 said:

Great deal. Yes, but have some funds tied up in some real estate on some projects so would prefer the payments to be spread out. Would benefit someone who did not need all the money straight away  but could offer a reasonable price without taking a big discount to sell.

Why would they want to sell at the bottom of the market unless they were getting the money outright.

The only people selling now are the ones who need cash.

I wish you luck but I dont like your chances

[mike1878]

51 minutes ago, usexpat46 said:

Did he ask you to pay any of the transfer tax?  Also many of the condos CAM fees are due at the beginning of the year so that might have encouraged him to sell.

Paid half the fees.. $2200 USD.  Yea the HOA is due in January..but it is $1100 USD for the year.   Not a big deal.    Guy spent 30K baht in upgrades and furniture in the unit when he bought it new.  Used it as his vacation home and never rented out.  I thought it was a good deal.  Bigger issue is am stuck in USA till when ever.. looking like 2022 to be able to go without quarantine . 

[Soda11111]

1 hour ago, Mr Wombat said:

Why would they want to sell at the bottom of the market unless they were getting the money outright.

The only people selling now are the ones who need cash.

I wish you luck but I dont like your chances

Very realistic reply, buyer doesn’t have any skin in the game. 

[Fired Up Paul]

4 hours ago, mike1878 said:

Paid half the fees.. $2200 USD.  Yea the HOA is due in January..but it is $1100 USD for the year.   Not a big deal.    Guy spent 30K baht in upgrades and furniture in the unit when he bought it new.  Used it as his vacation home and never rented out.  I thought it was a good deal.  Bigger issue is am stuck in USA till when ever.. looking like 2022 to be able to go without quarantine .

Silly questions I'm sure but here goes.

How did you effect the sale in the US?

Is it generally safe for Falangs to buy property in Thailand over the internet if it is through an established Agent?

Do you need a Thai Bank account?

Does your Lawyer hold the Chanote?

Any and all detail welcome.

[Rodewayinn]

10 hours ago, usexpat46 said:

Did he ask you to pay any of the transfer tax?  Also many of the condos CAM fees are due at the beginning of the year so that might have encouraged him to sell.

what is a cam fee?

[Rodewayinn]

2 minutes ago, Rodewayinn said:

what is a cam fee?

figured it out.

[mike1878]

5 hours ago, 1500B said:

Silly questions I'm sure but here goes.

How did you effect the sale in the US?

Is it generally safe for Falangs to buy property in Thailand over the internet if it is through an established Agent?

Do you need a Thai Bank account?

Does your Lawyer hold the Chanote?

Any and all detail welcome.

I went through Alan Bolton.  I have been in their place a few times before the pandemic, so I was comfortable with them.  I had a lawyer conduct the transaction in Thailand.  You do not need a Thai bank account though it helps.  The Chanote now is being held at Alan Bolton for me till I can return.  And they are handling the maintenance stuff such as paying the  HOA fees and other stuff for me.  I sent them a wire transfer to cover the cost till I return.  I think it is safe if you go though a trustworthy agency. 

[pykster]

Are your rights actually protected in such transactions ? Like, foreigner can't actually own the place can they ? So you depend on someone having their name for you and hope they won't screw you ? Or am I completly wrong

[Fired Up Paul]

6 hours ago, pykster said:

Like, foreigner can't actually own the place can they ?

Falang can own a condo. Not land.

[Saturn888]

19 hours ago, Mr Wombat said:

Why would they want to sell at the bottom of the market unless they were getting the money outright.

The only people selling now are the ones who need cash.

I wish you luck but I dont like your chances

Yes agree, will only be suitable for a seller who can not sell, wants to leave Thailand or does not want to offer a massive discount for quick sale, or investor with a number of villas/condos so just happy to receive a consistent income stream from the sale - win win situation for both sides, but agree certainly not for everyone.

I do not mind of some 'skin in the game' and happy to put down say 0.5m baht to 1m baht. Locations of preference would probably be Jomtien, Pattaya, Hua Hin, Koh Samui, Chiang Mai - so keep my options wide. Wide budget just to keep options open for different locations.

Anyone can send me a private message if they have any suitable real estate.

Thanks

Edited December 3, 2020 by Saturn888

[h.harris]

https://www.bahtsold.com/view/5-star-salt-waterpark-w-finance-288470

Here you go. Only need 300,000 baht to move in.

[Saturn888]

8 hours ago, h.harris said:

https://www.bahtsold.com/view/5-star-salt-waterpark-w-finance-288470

Here you go. Only need 300,000 baht to move in.

Something similar terms on financial structure is ideal. Only problem with that one is that its very small for me, at  only 37 sqm

[foreverpattaya]

On 03/12/2020 at 04:44, Saturn888 said:

Hi,

Looking for a 2/3 bed villa or apartment for purchase with a budget of 3-5 million baht. Can put a small portion down and looking for seller finance over several years. 

Can be flexible on __cpLocation. Can purchase quickly for ideal property.

Dont take loan...You will end uo paying a very high interest at the end..As in my case, my condo rent is 7000 bhat..A decent luxury condo .."IF YOU HESITATE,DON'T DO IT" .I follow this thumb rule here in Pattaya,Thailand.

[Saturn888]

1 hour ago, foreverpattaya said:

Dont take loan...You will end uo paying a very high interest at the end..As in my case, my condo rent is 7000 bhat..A decent luxury condo .."IF YOU HESITATE,DON'T DO IT" .I follow this thumb rule here in Pattaya,Thailand.

Agree. Need to either lock in a reasonable rate or agree a reasonable rate for the price of the villa/condo if no major discount. Again, something that will benefit both sides.